Naspers, South Africa\u2019s most valuable company, has seen its offer to buy Netherlands-based Just Eat Takeaway (JET) become unconditional.\u00a0<\/p>\n\n\n\n
MIH Bidco Holdings, a wholly owned subsidiary of Prosus, is looking to buy JET in a \u20ac4.1 billion (roughly R83 billion).\u00a0<\/p>\n\n\n\n
Based in the Netherlands, Prosus has a cross-ownership structure with Naspers and holds. <\/p>\n\n\n\n
With a market cap just under R1 trillion, Naspers is the most valuable company in South Africa, with much of this wealth linked to the company\u2019s stake in Chinese tech giant Tencent. <\/p>\n\n\n\n
JET is an on-demand delivery company operating in 17 countries, akin to South African operators Uber Eats and Mr D. Football fans may have seen the JET logo appear during UEFA competitions. <\/p>\n\n\n\n
Prosus has now announced that the offer to acquire JET has become unconditional. <\/p>\n\n\n\n
Over 180 million shares were tendered during the Offer Period, representing roughly 90% of JET\u2019s issued and outstanding share capital. <\/p>\n\n\n\n
As a result, all offer conditions described in the Offer Memorandum have been satisfied and the deal has been successfully closed. <\/p>\n\n\n\n
\u201cI’m very pleased with the outcome of the tender offer, and excited to welcome JET to the Prosus ecosystem,\u201d Fabricio Bloisi, Prosus’s CEO said. <\/p>\n\n\n\n
\u201cOur goal is to act quickly to transform JET through a focus on product, customer and innovation, creating a true European tech champion that will reshape the future of food delivery.\u201d\u00a0<\/p>\n\n\n\n
Bloisi became Prosus CEO after successfully running Latin America\u2019s largest on-demand delivery service, iFood. <\/p>\n\n\n\n
\u201cAs the tender offer has now been made unconditional, I would like to congratulate Fabricio and his team on the acquisition,\u201d said Jitse Groen, JET’s CEO. <\/p>\n\n\n\n
\u201cWe are looking forward to working with our new owner to accelerate growth, and are excited about building a bright future together.’<\/p>\n\n\n\n
JET shareholders who have not tendered their shares during the offer period will have the opportunity to tender their shares under the existing offer conditions in the post-closing acceptance period. <\/p>\n\n\n\n
Prosus and JET intend to procure the delisting of the ordinary shares of JET on the Euronext Amsterdam as soon as reasonably practicable.<\/p>\n\n\n\n
Delisting may adversely affect the liquidity and market value of the Shares not tendered. <\/p>\n\n\n\n
The composition of JET’s management and supervisory boards will not change upon settlement. <\/p>\n\n\n\n
However, upon delisting, there will be changes to the Supervisory Board of JET. Five existing JET supervisory board members will resign. <\/p>\n\n\n\n
Three Prosus nominees, including Bloisi, Roberto Gandolfo, and Fahd Beg, will join the supervisory board. <\/p>\n","protected":false},"excerpt":{"rendered":"
Naspers, via a subsidiary of Prosus, is set to acquire Just Eat Takeaway in a deal worth over R80 billion. <\/p>\n","protected":false},"author":95,"featured_media":772430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[21825,107,15103],"class_list":["post-838852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-just-eat-takeaway","tag-naspers","tag-prosus"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/838852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=838852"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/838852\/revisions"}],"predecessor-version":[{"id":838856,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/838852\/revisions\/838856"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/772430"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=838852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=838852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=838852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}